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Peter Lake Agreement Terminated

December 6th, 2017-Saskatoon, SK—Canadian Platinum Corp. ("CPC" or the "Company"-TSXV:CPC) announces that, further to the press releases dated October 2nd, 2017 and November 7th, 2017, under the terms of the Purchase and Sale Agreement (the "Agreement") between CPC and American Energy Metals Corp. ("AEMC" or the "Purchaser"), it has elected to terminate the Agreement. AEMC was unable to complete its corporate structuring, failing to meet its initial obligations, in the timeframe anticipated in the Agreement. Under the terms of the Agreement, CPC gave AEMC notice of termination.

Gary Billingsley, President, comments "Unfortunately the Parties couldn't close the transaction in a timely fashion and CPC elected to terminate the Agreement in order to pursue other opportunities to advance the project. Given today's metal prices, Peter Lake remains a significant part of our project portfolio, with the critical mineral claims in good standing for several more years without additional work requirements."

About Canadian Platinum Corp.
Canadian Platinum Corp. is a Canadian-based resource exploration and development company with its head office in Saskatoon, SK. CPC is focused on the acquisition and development of a diversified portfolio of resource properties hosting precious metals, base metals, platinum group elements and strategic metals including cobalt.

CANADIAN PLATINUM TRADES ON THE TSX VENTURE EXCHANGE UNDER THE SYMBOL "CPC".

For more information, including news releases and technical reports providing more detail on the contents of this news release, please visit our website at www.canplats.ca.

For further information:

Canadian Platinum Corp.
Gary Billingsley, President
Phone: 306-242-7363
Facsimile: 306-992-0729
www.canplats.ca

To receive information by email go to www.canplats.ca and click "Contact Information".

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTION REGARDING FORWARD LOOKING STATEMENTS
Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this release and except as required by law, the Corporation does not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release may contain statements within the meaning of safe harbour provisions as defined under United States Securities Laws and Regulations. The above statements are based on the current expectations and beliefs of the management of Canadian Platinum and are subject to a number of risks and uncertainties that may cause the actual results to differ materially from those described above.

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